Pick between Personal Loans and Line of Credit Loans
The first thing you need to decide is whether to apply for a personal loan that provides cash in a lump-sum and a fixed payment or a line of credit that you can tap at will and payback in payments. Another advantage to a line of credit is that you can tap into more money as you pay back the loan. Your choice will depend on your plans for the money and how disciplined you are at handling available cash and repaying debt.
A Personal Loan is essentially a small loan where you borrow a set amount and repay it on your next or following payday. It is usually the best option if you need a given amount all at once and plan to pay it back quickly.
Line of Credit
A Line of Credit at times is larger then a personal loan and may or may not be taken all at once. As we mentioned, you can tap into the money at will. Taking out the money at will, means your approved for the loan and you take out as much as you need, up to your approved limit, whenever you need it and without any additional approval or delay.
You’re in control of your loan
Wether you choose a lump-sum personal loan or line of credit loan you can use the money to buy whatever you need or simply enjoy the reassurance of having a reliable source of cash for emergencies. The choice is yours!
Benefits of Personal Loan and Line of Credit
While it’s true that you can get either loan into your bank account by the next business morning, here are some reasons you might prefer a personal loan or line of credit.
- Immediate funding
You can access funds potentially on the same day with a personal loan but either loan can be approved and funded with cash in your account by the next business morning.
- Quick decisions
Receive an approval decision within seconds when you apply online. Once you complete your personal loan application or line of credit application you will know immediately that your approved.
- Lower minimum amounts
You can borrow amounts as low as $100 for personal loans or $500 for lines of credit.
So if you need a smaller amount, you need it quickly, and you don’t want to have to qualify for a larger amount you don’t need then a personal loan would be the best choice for you.
- Higher maximum amounts
You can borrow amounts as high as $1000 for personal loans or $2000 or more for lines of credit.
If you need a larger amount or just want the money available as you need it and prefer to pay back your loan over time then a line of credit may be your best option.
- Bad Credit or No Credit is no Problem
Both the personal loan and line of credit loan are approved without a credit check. This does not mean we give money to everyone blindly as we do try to make sure you are who you say you are and they you don’t have out to many loans for your income to support or have recently defaulted on any short term personal loans or line of credit loans.
- All loans are collateral fee loans
That’s right, neither the personal loan or line of credit loan require any type of collateral to get the loan. You apply, get approved and the funds are transferred to your bank account.
People come to Green Leaf Loan Group for fast approvals and the many loan options provided and return because they get what they came to get. Green Leaf Loan Group provides personal loans, line of credit loans, cash advances, payday loans, 1 hour loans and auto title loans and all from your home, office or on the go with our mobile application.
by “Ray West“